The *True* Definition of "Mortgage"

Since we are going to be on the topic of mortgages, I feel it is only right that we take a close look at the term. If you did not know, the term mortgage is derived from Latin terms. The first term "Mort" is Latin for "Death". The second part of the term "gage" is from the sense of that word meaning a pledge to forfeit something of value if a debt is not repaid. So mortgage is literally a death pledge. It's sad, but most people will pay a mortgage until they die. I'm sure we all know folks getting up there in the age category that are still working at paying off their homes.